How Elon Musk Bought Twitter: An Unauthorized Guide to the SpaceX Founder's Social Media Buyout

By Daren Riches

In 2022, Elon Musk bought Twitter, but only after months of public announcements, disputes, and litigation. Despite a very public attempt to pull out of the deal, the billionaire ultimately took the social media giant private. This account explains how the deal unfolded.

• Language: English
• Publisher: Lulu.com
• Release date: Nov 30, 2022
• ISBN: 9781387443123

Book preview

How Elon Musk Bought Twitter

An Unauthorized Guide to the SpaceX Founder's Social Media Buyout

By Daren Riches

All rights reserved (c) 2022 Daren Riches

How Elon Musk Bought Twitter

An Unauthorized Guide to the SpaceX Founder's Social Media Buyout

By Daren Riches

All rights reserved (c) 2022 Daren Riches

978-1-387-44312-3

Imprint: Lulu.com

Contents

Chapter 1: Rumors

Chapter 2: Initial Offer

Acquiring 9.2% Ownership

Rejecting a Seat on the Board

Making a Purchase Offer

Twitter Accepts the Offer

Second Thoughts

Sale Approval by Twitter

Chapter 3: Litigation

Twitter’s Lawsuit

Musk’s 1st Set of Counterclaims

Whistleblower

Termination Letter 3

Discovery

Chapter 4: Closing the Deal

Chapter 5: Changes

Assurances to Advertisers

Layoffs

Unbanning Users

Changing the Product

Conclusions

Chapter 1: Rumors

On March 24, Elon Musk began a Twitter thread in which he referred to the social media platform as a public town square and questioned whether it was protecting free speech. At one point he asked whether there should be a new platform, implying that he might create one.

Possibly in response to these musings, Twitter co-founder Jack Dorsey and a board member of Twitter met with Elon Musk on March 26. Dorsey addressed the possibility of giving Musk a seat on Twitter's Board of Directors. That would give Musk an ability to influence the company’s direction and possibly address free speech issues.

For years, Dorsey had referred to Twitter as a public square. He also repeatedly emphasized his commitment to free speech. As he envisioned, Twitter became a public forum for discussion and debate, which made